In Polish: Rynek pierwotny
This is the word you will see in bank documents.
Definition
The primary market means properties bought from a developer, i.e. flats and houses sold for the first time, often still under construction. The purchase is governed by the Developer Act of 20 May 2021, in force since 1 July 2022. The price includes VAT, so the buyer does not pay PCC on the price.
What it means for you
With a loan for a flat under construction the bank pays out in tranches to an escrow account, and until completion you usually pay only interest on the part paid out. Transaction costs are lower than on the secondary market, but there is interest during construction and often rent. You get the keys only after handover and transfer of ownership.
Full entry in Polish, with a worked example and sources
Frequently asked questions
Do you pay PCC when buying from a developer?
No. The price includes VAT, so you do not pay 2% PCC on the price. You only pay PLN 19 PCC for creating the mortgage.
When do mortgage instalments start for a flat from a developer?
You pay interest from the first tranche paid out. Full instalments with capital usually start after the last tranche, if the agreement provides for a grace period.
What if the bank refuses the loan after I sign the developer agreement?
A refusal is not a statutory reason to withdraw from a developer agreement. Ask the developer for a clause that lets you withdraw without penalty if no bank grants financing, or get a loan decision first.
Related terms
Definitions are simplified and reflect Polish law and bank practice as of October 2026. Where every word matters, the Act and your loan agreement decide. Figures in examples are indicative and are not a bank offer. The Polish version of each entry has worked examples and sources.
Other terms in “Property and security”